Regardless of what type of online business you are trying to develop, it's a good idea to focus on one specific niche.
But picking out a profitable niche online can sometimes be like trying to find a needle in a haystack. The internet is a busy place and online business owners need to know that they are entering a worthwhile market before spending time, money and resources on building up a new internet based business.
Here are 7 tips on how to find a profitable niche online.
1. Google Suggests
When you type a word into Google, before you hit enter it displays a list of possible phrases that you may be looking for. This auto-complete feature draws on popular search requests from other users. Because an audience is searching for that item it is likely to be profitable online niche.
When you're looking for a profitable niche online business Amazon has already done a lot of the work for you. If a niche market is popular on the world's largest retailer that will quickly tell you if you have a workable marketplace or not.
3. Magazines And Books
You can also use the offline world to search for a profitable niche online. The publishers of magazines and books do a lot of research before spending money on marketing and printing, so when you see a book or magazine for sale, it's most likely based on a top niche market.
FAQFox.com surveys online forums and scrapes keywords and phrases based on a word that you enter. It will list lists, links and questions that are relevant to your keyword. When you see a lot of people talking about the same problem, product or service, that shows there is a profitable niche online.
This website shows markets where people are buying courses and education. You can use their information database to see a list of the most popular courses. This is a great way to find out what people are actually paying money for.
6. Ask Technorati
You can search for your niche subject matter on this website. If there are a good number of results, you are probably a profitable online niche.
7. The Competition
If there are lots of businesses in a market that is very competitive, it will be challenging for you to be successful. However, if there is no competition it shows that it is not a viable market. Type your niche name into Google. If there are ads related to the search that's a good sign. That means companies are profitable enough to spend money advertising to your market. Now you need to focus your efforts on a well-defined segment of that market.